Two-Space Office and Restaurant
For Sale
$1,850,000
3861 3865 Jasmine Avenue, Los Angeles, CA 90232
Free-standing building with a 2,000-SF office suite and an 850-SF restaurant space currently occupied.
Property Size2,850 SF
Price / SF$649.12
Days on Market81
Property Features for 3861 3865 Jasmine Avenue
General Information
Standard status
Active
Size
2,850 SF
Property subtype
COMMERCIAL
Additional Details
Office Units
1
Building Details
Building Size
2,850 SF
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Jaleh Azarmi · License #01176352
(310) 573-7452
Source:
Truthrealty
Added: Jun 26
Changed: Aug 28
Last Checked: Sep 14 at 11:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Free-standing commercial building offering two separate rental spaces. One unit is approximately 2,000 square feet and features a flexible layout with five private offices, a kitchen, two large open work areas, and a reception area. The second unit is approximately 850 square feet and is currently occupied by a restaurant.
The 2,000-square-foot space has been previously utilized as a medical office and laboratory, and the floor plan is described as adaptable for a range of professional, medical, creative, research, office, or other commercial uses. The property was built in 1930.
Although the address and ZIP code list Culver City, the property is located within the City of Los Angeles and is generally subject to Los Angeles building, safety, zoning, and regulatory requirements. Offered for sale or lease.
The 2,000-square-foot space has been previously utilized as a medical office and laboratory, and the floor plan is described as adaptable for a range of professional, medical, creative, research, office, or other commercial uses. The property was built in 1930.
Although the address and ZIP code list Culver City, the property is located within the City of Los Angeles and is generally subject to Los Angeles building, safety, zoning, and regulatory requirements. Offered for sale or lease.
Key Highlights
- Two separate rental spaces: approx 2,000 SF office unit and approx 850 SF restaurant unit
- 2,000‑SF unit layout includes five private offices, kitchen, two large open work areas, and reception area
- Restaurant unit is currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,185
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,543,700
$1.5M
Cap Rate 7%
$1,102,643
$1.1M
Cap Rate 9%
$857,611
$857.6K
Market Conditions
NOI Build-Up for 2,850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.3K $36.96/SF
− Vacancy
−$2.4K −$0.85/SF
EGI
$102.9K $36.11/SF
− OpEx
−$25.7K −$9.03/SF
NOI
$77.2K $27.08/SF
Area
Los Angeles, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,543,700
Cap Rate 7%
$1,102,643
Cap Rate 9%
$857,611
Alternative Uses
Best Use
Specialty Retail
$1.10M
$964.8K – $1.29M
NOI $77,185 @ 7.0% cap · market cap 4.17%
Second Best
Office B
$966.4K
$845.6K – $1.13M
NOI $67,648 @ 7.0% cap · market cap 3.66%
Theoretical Best
Multifamily LT 5
$57.74M
$50.52M – $67.36M
NOI $4,041,750 @ 7.0% cap · market cap 218.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,423
Businesses Nearby
Explore this area
Business Placement
Demographics for 90232, CA
16,452
Population
7,995
Households
2.1
Avg Household Size
38
Median Age
64%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
7,478
Density / Sq Mi
$125,490
Median Household Income
$84,701
Median Earnings
$2,659
Median Rent
$1,491,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Free-standing building with a 2,000-SF office suite and an 850-SF restaurant space currently occupied.
Where is this office units located?
The property is located at 3861 3865 Jasmine Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two separate rental spaces: approx 2,000 SF office unit and approx 850 SF restaurant unit; 2,000‑SF unit layout includes five private offices, kitchen, two large open work areas, and reception area; Restaurant unit is currently occupied
